World Bank says no plan to trim lending to India

Last Updated: Wednesday, March 21, 2012 - 23:44

Mumbai: The World Bank will not reduce its financial assistance at the moment to India for poverty alleviation measures because official data has shown the number of poor people has declined.
The international funding agency takes a long-term
view on its commitments and the poverty data released on
Monday will not have any bearing on that commitments, World
Bank (WB) Country Head N Roberto Zagha said on the
sidelines of an event here.

Zagha said the Bank does use official data put out by
Indian agencies while making its plans. "We are constantly
analysing (data), and right now I don`t feel there will be any
cut because the data have shown a reduction in poverty."

The Washington-headquartered multilateral lender envisages
lending USD 14 billion for projects in the country between
2009 and 2012, according to its country website.

According to the data released by the Planning Commission,
the number of people under the poverty line - whose daily
consumption is below Rs 28.65 for urban centres and Rs 22.43
for rural areas - declined to 29.8 per cent in 2009-10 from
37.2 per cent in 2004.

Zagha also welcomed the Union Budget calling it as
"realistic".

He, however, marked energy, uneducated labour force,
increased urbanisation and regulatory issues as challenges
being faced by the country at present which demand the added
attention of policymakers.

PTI



First Published: Wednesday, March 21, 2012 - 23:44
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